Construction

The construction industry is the foundation of business and economic growth, and we work with construction contractors in all stages of the construction process. From rough grading to interior design and build companies, we have developed close professional relationships with a diverse group of construction clients to help navigate an extremely competitive marketplace.

Komisar Brady has grown with our construction clients because of our extensive knowledge of their unique financial and tax needs. Partners Edward Brady and Bill Komisar head up our construction practice group along with a large supporting cast tailored to individual client specialty areas and needs. In recent years, this practice area has become increasingly complicated as federal, state and local governments have passed tax and other incentives for the construction industry.

In February 2009, the American Recovery and Reinvestment Act was signed into law as the largest single economic stimulus bill in history with an expected cost of $787 billion. The Act focuses on broad-based economic development in three areas – individual tax incentives, business and employment incentives, and rewards for progress in energy conservation, efficiency and renewable energy. This act along with significant other legislation over the past 5 years led us to develop a subspecialty area in our tax department to proactively help our construction clients use any and all incentives available to them, including:

• Tax incentives for federal manufacturing and construction deduction (“Domestic Production Activities”)
  
• Property tax exclusions
• Employment tax incentives

Another challenge facing all construction contractors is the tightening of the bank lending and other financing markets. These obstacles to obtaining financing make it more difficult for all businesses to obtain additional financing and also tightened lender scrutiny on lines of credit and loan guarantees. In response to the change in the financing market, we work very closely with many businesses to help retain favorable financing terms and even to access financing when needed. While we cannot insulate companies from lender scrutiny, we can help build secure borrowing relationships between lenders and borrowers by providing sound professional advice and by proactively addressing financial challenges before they impact a company’s ability to stay in business.

We ask the important questions and provide timely answers to provide construction contractors with the edge over the competition.